22 Reasons Why Investing in Chatbots is No Longer an Option

Chatbots are becoming more of main stream than ever before and although your industry may not appear to be adopting rest assured, your competitors will be. The leveraging of technology and artificial intelligence (AI) is driving efficiency and improvements across many aspects of business for those that invest. Review this list of 22 reasons why chatbots are changing the world we live in and why it makes sense for your company to make the move, before your competitors.

According to Business Insider 80% of businesses want chatbots by 2020. Business Insider

71% millennials are hoping to interact with their favorite brands through chatbots. chatbotslife.com

Chatbots will power 85% of all customer service interactions by the year 2020. Gartner

In 2017, 35.6 million Americans are expected to have used voice-activated assistant device at least once a month, which is 128.9%higher than the year 2016. eMarketer

The new research, Chatbots: Retail, eCommerce, Banking & Healthcare 2017-2022, forecasts that chatbots will be responsible for cost savings of over $8 billion/annum by 2022, up from $20 million this year. Juniper Research

$4.5 Billion is expected to be invested in enterprise intelligent assistants by 2021. Opus Research

By 2020, the revenue by Amazon’s Echo and Alexa is expected to be beyond $11 billion. Mizuho International

Chatbots can help the businesses with savings over $8 billion/year by 2022. Juniper Research

95% believe that chatbots are going to be of great benefit to customer service industry. Chatbot Journal

67% estimate that chatbots are to replace the mobile apps in coming years. Chatbots Journal

More than 50% of the consumers expect the businesses to be available 24/7 to take their questions and suggest resolutions. Venture Beat

Chatbots could result in $15 billion savings in the salaries of sales representatives as well as securities. Dazeinfo

During the period 2016-2021, the chatbot marketing is expected to increase at a compound rate of 35.2%. Marketsandmarkets

75% of HR teams plan to implement chatbots in the next three years and 92%of HR professionals agree that chatbots will become vital in directing employees to crucial company information. ServiceNow

With smartphone users expected to reach 6 billion globally by 2020, the speech-based chatbot’s implications in customer service are expected to make up large parts of company’s marketing strategies in the future. V-Soft Consulting